Dismal IIP data, European weakness & weak rupee took indices towards the strong support zone of 4800 and market breadth was negative for whole session. 4750 is now seen as the crucial point for Nifty future and if it sustains below these levels then it can slip towards the recent lows of 4630. In this bearish rally, any up move in the index will find 4885 as its resistance. If it crosses 4900 mark then 4950 will be acting as hurdle to move on higher side.
TREND: Down
SUPPORT : 4720 & 4630
RESISTANCE: 4885 & 4940
TREND: Down
SUPPORT : 4720 & 4630
RESISTANCE: 4885 & 4940
- Dismal IIP, weak Europe double blow for mkt;Sensex shed 343 points.
- Barring IT, all sectoral indices closed negative with metal being the worst among them.
- Industrial output contracts 5.1% in October.
- CBI chargesheets Essar, Loop Telecom in 2G.
- Emami plunges 6% after AMRI Hospital fire incident.
- Rupee hits new record low of 52.77 per dollar.
